Kremin continued, “Our LNG fleet is fully-fixed for the remainder of 2020 and 94 percent fixed for 2021, largely insulating Teekay LNG from the current weak short-term LNG shipping market. * Total adjusted EBITDA(1) of $192.3 million in the second quarter of 2020, representing another quarterly record and up nearly 19 percent from the same quarter of the prior year. 2. Dollars, except per unit data)(unaudited)(unaudited)(unaudited) GAAP FINANCIAL COMPARISON Voyage revenues148,205 139,887 153,060 Income from vessel operations69,589 21,738 74,677 Equity income32,155 373 1,738 Net income (loss) attributable to the partners and preferred unitholders44,934 (32,994)16,435 Limited partners’ interest in net income per common unit0.46 (0.50)0.12 NON-GAAP FINANCIAL COMPARISON Total adjusted revenues(1)254,001 244,268 221,926 Total adjusted EBITDA(1)192,340 188,388 162,069 Distributable cash flow (DCF)(1)83,170 74,877 56,330 Adjusted net income attributable to the partners and preferred unitholders(1)62,643 52,236 34,435 Limited partners’ interest in adjusted net income per common unit0.67 0.58 0.35 (1) These are non-GAAP financial measures. Please refer to Appendix C and E of this release for a reconciliation of this non-GAAP financial measure to voyage revenues and equity income, the most directly comparable GAAP measures reflected in the Partnership’s consolidated financial statements. These increases were partially offset by unrealized foreign currency exchange losses incurred in the second quarter of 2020 as compared to gains in the first quarter of 2020.CEO Commentary“We are pleased to report that this was another record quarter for Teekay LNG,” commented Mark Kremin, President and Chief Executive Officer of Teekay Gas Group Ltd. “While COVID-19 continues to have an unprecedented impact on the world and is a major focus for us, we have been able to fully service our charter contracts and have continued to receive contracted cash flows from our high quality customers. Adjusted EBITDA from Equity-Accounted Vessels represents the Partnership's proportionate share of Adjusted EBITDA from its equity-accounted vessels. Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively. See Note 3 to the Consolidated Statements of Income (Loss) included in this release for further details. Appendix D - Reconciliation of Non-GAAP Financial Measures Consolidated Adjusted EBITDA by Segment (in thousands of U.S. Includes vessels leased by the Partnership from third parties and accounted for as finance leases. In addition, the Partnership does not control the timing of any such distributions to the Partnership and other owners.
In addition, the Partnership owns a 30 percent interest in an LNG regasification terminal. The Partnership’s ownership interests in these vessels range from 20 percent to 100 percent. Please refer to Appendix B of this release for a reconciliation of this non-GAAP financial measure to net income, the most directly comparable GAAP measure reflected in the Partnership’s consolidated financial statements.
Teekay Lng Partners' stock is trading down $0.25 today. Appendix B - Reconciliation of Non-GAAP Financial Measures Distributable Cash Flow (DCF) (in thousands of U.S. The timing and amount of dividends distributed by the Partnership's equity-accounted joint ventures are affected by the timing and amounts of debt repayments in the joint ventures, capital requirements of the joint ventures, as well as any cash reserves maintained in the joint ventures for operations, capital expenditures and/or as required under financing agreements.Adjusted EBITDA represents net income (loss) before interest, taxes, and depreciation and amortization and is adjusted to exclude certain items whose timing or amount cannot be reasonably estimated in advance or that are not considered representative of core operating performance. Find the latest Teekay LNG Partners L.P. 8.50% (TGP-PB) stock quote, history, news and other vital information to help you with your stock trading and investing. The specific items affecting net income (loss) are analyzed to determine whether any of the amounts originated from a consolidated non-wholly-owned subsidiary. By excluding these items from equity income, the Partnership believes the resulting adjusted equity income is a normalized amount that can be used to better evaluate the financial performance of the Partnership’s equity-accounted investments. Teekay LNG Partners is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.For Investor Relations enquiries contact:Ryan Hamilton Tel: +1 (604) 609-2963 Website: www.teekay.com Definitions and Non-GAAP Financial MeasuresThis release includes various financial measures that are non-GAAP financial measures as defined under the rules of the SEC. 2. Teekay LNG Partners L.P.
Canadian Boutique Clothing, Bri Bachelor Instagram, Slide Viewer Amazon, Nindiya Piano Chords, Bim42 Group Clashes, Jawani Zindabad Movie, A History Of Interest Rates Pdf, My Sweet Love Baby Doll, African American, Keds Shoe Store, I'll Be Watching You, Southern Methodist Church Orangeburg, Sc, Misirlou Greek Lyrics, Dividend Reinvestment Plan Selfwealth, Thandavam Movie Dailymotion, Home Haircuts For Men, How Tall Is Jlo, Kutta Palna In English, Senior Designer Salary, Best Restaurants Near Topkapi Palace, Istanbul, Rus Yusupov Death, Ark Element Dust The Island, Dua For Orphans, Queen Mary Law 2020, Windsor $10 Sale, Haqeeqat Tv Contact Number, Dheeraj Dhoopar Height, Css Outline: None, Aprilaire Thermostat 8448, Best Wearable Cooling Devices 2020, Paynes Prairie Observation Deck, Increasing Love Quotes, Candy Candy Lyrics English, Best Kickstarter Board Games 2018, Get In On The Ground Floor Synonyms, Crowder College Hours, Light Text Photoshop, Movie Box Pro Google Sign In, Pg&e Ceo 2018, Friday The 13th Switch Controls, Trane Heat Pumps For Sale Online, Joot Are You Ready, Distance Between Spain And Morocco, Leopold Bench With Arms, Giannis Antetokounmpo Salary 2019, End Of The Trail Dove Review, Golf Related Stocks, Movies Anywhere Paramount, Trip To Australia Cost, Moonglow Jazz Song, Directions To Somerdale New Jersey, Davis Vantage Vue Review, Nhl Season 2001 2002, Meri Gudiya Cartoon, Jesus Lover Of My Soul Lyrics, Did Akbar Marry Anyone After Jodha,
